Reports of an interesting study appeared a little while ago.
The first report is here:
Posted on Jun 05, 2015
By Mike Miliard, Editor
New research from Accenture projects that digital health tools will save the U.S. healthcare industry more than $100 billion over the next four years.
In 2014 alone, it calculates, technology such as Web-enabled devices, digital diagnostic tools and other FDA-approved IT help achieve some $6 billion in reduced costs – mostly thanks to things such as improved medication adherence, behavior modifications and fewer emergency room visits.
Accenture expects that number to approach $10 billion this year and $18 billion next year – increasing to $30 billion in 2017 and $50 billion in 2018 as these technologies take hold, proliferate and evolve.
It also predicts that FDA approval of digital health tools will triple by the end of 2018, to 100 (up from from just 33 this past year).
"A digital disruption is playing out in healthcare, as witnessed by the emergence of new business models and technology that will change the nature of patient interactions, alter consumer expectations and ultimately improve health outcomes," said Rick Ratliff, Accenture's managing director of digital health solutions in a press statement.
Factors, such as government health IT mandates, payment reform and other regulatory changes are accelerate the growth of FDA-approved digital solutions, the report shows.
Increasing ubiquity of health IT among physicians and patients will enable more and more devices to integrate with patient portals and digital health records, according to Accenture, which finds that one in four U.S. physicians routinely use telemonitoring devices for some aspect of chronic disease management.
There is another report here:
By: Jonah Comstock | Jun 4, 2015
FDA clearances for digital health devices are on track to triple by 2018, according to new research from Accenture, as digital health offerings drive more than $100 billion in savings over that same time period.
Thirty-three digital health devices were cleared by the FDA in 2014, according to Accenture, and they predict 100 will be cleared in 2018.
The research group estimates that FDA-cleared digital health devices — defined as “an internet-connected device or software created for detection or treatment of a medical indication” — saved the US healthcare system $6 billion last year in the form of improved medication adherence, behavior modifications and fewer emergency room visits. They predict that savings will grow to $10 billion in 2015, $18 billion in 2016, $30 billion in 2017 and $50 billion in 2018.
“A digital disruption is playing out in healthcare, as witnessed by the emergence of new business models and technology that will change the nature of patient interactions, alter consumer expectations and ultimately improve health outcomes,” Rick Ratliff, managing director of digital health solutions at Accenture, said in a statement.
The sad things with such studies is that the authors never seem to come back five years later to let us know how it worked out!
We can all be hopeful - as if applied to Australia might mean about 1/20 (the relative size of the two economies) of that amount in Australia with e-Health done right which is still a fair bit!